Vangile Makwakwa Dishes Out Sage Advice at the Launch of Heart, Mind and Money
After racking up more than $30,000 in student loan debt, $10,000 in credit card and other debt whilst obtaining various degrees in the US, Vangile Makwakwa’s start-up company failed and her relationships with the people closest to her were in trouble. She had hit rock bottom.
By taking a long hard look at herself and her situation, Makwakwa slowly started to turn things around. In her book Heart, Mind and Money: Using Emotional Intelligence for Financial Success she documents this process and explores the link between human emotions and money.
Last night this young entrepreneur launched her book at the popular Book Lounge in Cape Town. In conversation with Shado Twala, best known as a presenter on radio stations such as Cape Talk and Heart 104.9FM. They begun by chatting about the possibility of this book being the first in a series that could also give advice on relationships and love. Makwakwa said that she regularly receives emails from people asking for relationship advice, but that this isn’t really her field of expertise and that she’ll stick to wealth coaching.
Heart, Mind and Money: Using Emotional Intelligence for Financial Success is based on the premise that your body reacts to financial situations in certain ways, and that to change your financial situation you need to change your body’s responses. Makwakwa said at the launch that poor financial situations can lead to bad health and could cause depression and anxiety. In her book she discusses a variety of methods to change your perspective on money but says that readers should choose the methods that work for them.
Makwakwa suspects that the reason people find it so hard to talk about money or to face financial issues is because of the way in which they were brought up. “We see how our parents react to a credit card bill and when we grow up we react in the same manner.” This behavior, says Makwakwa, is embedded in our subconscious and we need to change it on that deep level in order to change our financial reality.
Rather than allowing your brain to get rid of the emotions you fear, you need to face and experience them in order to deal with the emotions. By avoiding our financial reality we’re not facing and dealing with the problem, says Makwakwa. That’s why she says in the book that you should check your bank balance every day. “There’s nothing more powerful than facing your bank account,” she says in the following video:
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During Makwakwa’s research for the book many people told her that the feeling they get when looking at their financial reality is like “a lump in the throat” and she says to observe the emotion until it passes. Heart, Mind and Money also encourages honesty with those close to you and dependent on you and it’s also a book for men, says Makwakwa. “Wealth isn’t just money, but your health and your relationships add to that equation,” she told the audience.
Twala recommended the book to everyone and said that she has also recently started practicing some of the methods in Heart, Mind and Money.